Misonix (MSON) Misses Q3 EPS by 1c

Misonix (NASDAQ: MSON) reported Q3 EPS of $0.05, $0.01 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $5.3 million, versus $4.3 million reported last year.

Michael A. McManus Jr., President and CEO stated, "The second half of fiscal year 2015 has started off very strong with revenue increases of 24% and 35% for the third quarter and the nine months respectively. We continue to make consistent progress in penetrating our markets, both domestically and internationally. BoneScalpel units sold or consigned during the quarter increased 31% to 50 units versus 38 units sold or consigned in the comparable quarter last year. The continuing professional efforts over the past two years to refine our sales and marketing strategies are paying off as we consistently increase product placements domestically and sales internationally. As we continue to increase product placements and sales our recurring revenue now accounts for 57% of overall revenue and enhances the credibility of our operating model. Our business is driving revenue, generating solid cash flow and profitability.

"We are particularly pleased with the growing acceptance of our SonicOne O.R. and SonaStar products," continued Mr. McManus. "The ability of the SonicOne O.R. to safely and effectively debride chronic wounds and burns and accelerate healing not only provides an improved outcome for patients, but also provides a cost benefit for the hospital utilizing the technology. The SonicOne O.R. was recognized at the recent North American Burn Association National Conference in Chicago, Illinois, with a presentation by Abraham Houng, MD, associate program director for the Division of Burn Surgery at Saint Barnabas Medical Center in Livingston, New Jersey. Dr. Houng said, 'Our expanding experience with the SonicOne O.R. system continues to support a growing body of evidence that debridement with SonicOne O.R. is safer, results in significantly less blood loss, and offers other key advantages over other methods.' The SonicOne O.R. was also recently recognized at the SuperBones/SuperWounds medical conference in Orlando, Florida. These are important recognitions that speak to the beneficial patient outcomes that can be achieved with our leading-edge product. We are also pleased with the growing acceptance of our SonaStar advanced ultrasonic system for precise soft tissue aspiration and powerful removal of osseous structures. Surgeons are increasingly working with these products and generating improved patient outcomes. We believe that both of these products represent competitive advantages for Misonix in large and growing markets."

Mr. McManus concluded, "We expect the momentum of the first three quarters to continue into the fourth quarter of fiscal 2015. The financial underpinnings of the Company remain strong, with cash and equivalents approaching $9 million, no long-term debt, and operations funded from internally generated cash flow. We look forward to continue to drive solid operational and financial results and to close out fiscal 2015 on a strong note."

For earnings history and earnings-related data on Misonix (MSON) click here.

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